ART Advanced Research Technologies Inc. Announces Court Approval of Its Proposal Filed Under the Bankruptcy and Insolvency Act

ART Advanced Research Technologies Inc. (ART) (TSX:ARA), a Canadian medical
device company specializing in optical molecular imaging products for the
healthcare and pharmaceutical industries, announces that the Quebec Superior
Court approved today the amended proposal (the "Proposal") filed by ART under
the Bankruptcy and Insolvency Act (Canada) (the "BIA"). The Proposal provides
for, amongst other terms, the distribution of the sum of $375 000 to the
unsecured creditors as well as a reorganization of ART's equity pursuant to
Section 191 of the Canada Business Corporations Act (the "Reorganization").


The transactions contemplated by the Proposal including the Reorganization are
expected to be implemented and effective by December 11, 2009.


In consideration of the transactions contemplated under the Proposal, Dorsky
Worldwide Corp. ("Dorsky") settled the claims of secured creditors of ART
totaling close to $5 million and paid $375,000 to be used by ART to pay a
distribution to its unsecured creditors.


Upon the implementation of the Proposal and Reorganization, all existing common
and preferred shares and other equity of ART will be automatically cancelled,
without payment or compensation to the holders of such shares and equity, in
accordance with the terms of the Court approved Proposal. This announcement
follows the announcement made on December 7, 2009 that the unsecured creditors
of ART (the "Unsecured Creditors") voted unanimously in support of its Proposal
under the BIA, as amended, at a meeting of Unsecured Creditors held that day.


About ART

ART Advanced Research Technologies Inc. develops and commercializes molecular
imaging products for the healthcare and pharmaceutical industries. In accordance
with TSX Bulletin No.2 009-1426 dated November 3, 2009, the Toronto Stock
Exchange ("TSX") determined on November 12, 2009 to delist the common shares
(Symbol:ARA), the Series 1 Preferred Shares (Symbol:ARA.PR.A) and the Series 2
Preferred Shares (Symbol: ARA.PR.B) of the Company (collectively, the
"Securities") at the close of market on December 11, 2009 for failure to meet
the continued listing requirements of TSX. The Securities will remain suspended
from trading. For more information on ART and its restructuring, visit our
website at www.art.ca


This press release may contain forward-looking statements subject to risks and
uncertainties that would cause actual events to differ materially from
expectations. These risks and uncertainties are described in the most recent
Annual Information Form and the financial statements for the year ended December
31, 2008, available on SEDAR (www.sedar.com).